Common use of Update Fee Clause in Contracts

Update Fee. (per update after the first 4 updates per annum) 1. Storage Fee (per annum, per cubic foot payable if the source exceeds 1 cubic foot) 1. Release Fee (plus Escrow Agent's reasonable expenses) (i) All fees are subject to VAT where applicable(1) (ii) All fees are reviewed by Escrow Agent from time to time

Update Fee. (per update after the first 4 updates per annum) 1. Storage Fee (per annum, per cubic foot payable if the source exceeds 1 cubic foot) 1. Release Fee (plus Escrow Agent's reasonable expenses) (i) All fees are subject to VAT where applicable(1) (ii) All fees are reviewed by Escrow Agent from time to timetime ---------------------